Chicago Tribune (October 16)
“Raising the debt limit neither authorizes new spending nor increases our national debt by a single dime…. It simply allows us to pay the bills Congress has already racked up.” As such, the debt ceiling should be repealed. “All it does is make the markets jittery and provide an opportunity for contemptible, hypocritical grandstanding that distracts from serious negotiations about taxes and spending. At worst it crashes the economy. No president, Democrat or Republican, should ever again have to negotiate with Congress with such a threat over his or her head.”
Tags: Congress, Debt ceiling, Democrat, Economy, Markets, National debt, Negotiations, President, Republican, Spending, Taxes, U.S.
Chicago Tribune (November 8)
After two years of fighting, the score in Washington looks just the same: a Republican House and a Democratic Senate. “Guaranteed gridlock? Not necessarily.” The Tribune is hopeful status quo will actually provide the momentum to overcome the looming fiscal cliff. “With Washington’s power equation constant, this is, surprisingly, the ideal moment to take unpopular steps and rescue our government from potential doomsdays — the first of them scheduled for Jan. 1, less than eight weeks away…. This lame-duck Congress and re-elected president could give the American people a marvelous holiday present.”
Tags: Congress, Democrats, Fiscal cliff, Gridlock, Republican, Washington
Economist (October 9)
As the U.S. presidential election heats up, the media is awash in party-related statistics. The Economist reports that since 1929, “America’s stockmarket has gained more under Democratic than Republican presidents” with Democratic administrations presiding over a 460% increase in nominal share prices versus 100% for Republican administrations. In terms of cumulative returns, the results are even starker. The Democrats scored 300% versus the Republican’s 0%.
Tags: Democrat, Election, Presidents, Republican, Share prices, U.S.
